Apple has confirmed the widely-spread rumor that it is developing a cloud service. They will announce it at the June 6 Worldwide Developers Conference.

While there aren’t many details surrounding what the cloud services will offer, it is known that Apple purchased a $4.5 million domain name back in April.

So what is iCloud going to be?

It might be an iTunes streaming services – a possibility looking increasingly likely as Apple has most major record labels signed on for it – Amazon and Google have no such deals. It may also turn out to be Apple’s version of DropBox, which is a sync-and-storage service that allows users to store, share, and use files at will.

DropBox is already the default file system for iOS, though, and can be used by and developer on almost any other operating system. iCloud would need to be just as accessible in order to be successful.

Over the next week, there will certainly be more speculation of what the iCloud will be – and it also draws questions about the new iPhone – if Apple is announcing a cloud service next month, when will the “iPhone 5” (or whatever they’re going to call the next iPhone model) be announced? Rumors suggest September or October.

The keynote at WWDC will be delivered by Steve Jobs, who is currently on medical leave. It will also focus on the new version of OS X 10.7 Lion, and iOS 5.